Cristian Tello is set to sign a new deal with the club which would make the release clause activation in his previous deal null and void.

Liverpool recently missed out on Henrikh Mkhitaryan and it now looks likely they are on the verge of missing out on yet another long-term transfer target.

For the second summer in a row the club has been linked with the same Barcelona player because of an issue with his contract.

A year ago Liverpool was one of many teams linked with the signature of talented Spanish winger Cristian Tello. The pacy forward only had 12 months remaining on his contract at the time and it was rumoured he was unhappy with his lack of first-team football at the club.

Therefore the assumption was made that Barca would cash in on Tello and Liverpool; along with AC Milan and others were linked with a vested interest in the player.

Six months later however and he signed a long-term extension to his deal.

However that new deal had a clause written into it similar to that in Thiago Alcantara’s; and if Tello did not play a certain percentage of games in the season for Blaugrana he would have a release clause activated.

That release clause was just €10 million (approximately £8.5 million) and after Tello did not play the requisite amount of minutes for the club the clause was activated at the end of the season.

Along with the arrival of Neymar it seemed that Tello was finally destined for a Catalan exit; with Liverpool again strongly linked with taking advantage of his contract issues.

Other teams were also mentioned including Borussia Dortmund, Fulham and even Tottenham but it was always Liverpool who headed the running in the media's eye due to the style in which Tello plays being conducive to Brendan Rodgers’ footballing philosophy.

But unfortunately nobody will be signing him.

It seems that Tello will continue to be a Barcelona player for the foreseeable future after reports in Spain suggested he was on the verge of signing a new deal with the club this week which would eliminate such a clause.

For Barcelona it is good news because at just 21-years-old if a team, including Liverpool, could have snapped up Tello for just £8.5 million it would absolutely be a deal that would come back to haunt them a little ways down the line.

Lucky for them his obvious adoration for the club has outweighed any starting ambitions as he will continue to fight for a starting spot amongst one of the best attacking line-ups in world football today.

Liverpool's defensive midfielder Lucas Leiva still hopes to be included in the Brazilian squad for the 2014 World Cup.

The midfielder talked with Liverpool's official site about it, he said: "It's a big season for us. We always talk about this.

"We know how difficult it is to be involved with the squad. I was involved before the injuries so I probably feel worse than him, because I was there and very close to making the Confederations and the World Cup.

"Now it's harder, but this season is a last chance to try and impress and get a place in the national squad.

"The World Cup in our country will be amazing. Every international break that you are not involved in becomes harder, but you have to believe until the end."

Liverpool's Pepe Reina is set to link up with his former manager Rafael Benítez at Napoli on a season-long loan deal.

The Spanish goalkeeper's place at Anfield had looked increasingly uncertain since Liverpool signed Simon Mignolet for £9m from Sunderland in June and the prospect of having one of the club's highest earners on the bench appears to have forced a decision.

The Spaniard had been given time off after the Confederations Cup and was due to fly to Australia to link up with the Liverpool squad on their pre-season tour. The academy keeper Danny Ward will instead travel to Melbourne as back-up to Mignolet and Brad Jones.

Benítez turned to Reina after being frustrated in his attempts to sign Julio Cesar on a season-long loan deal from Queens Park Rangers.

Liverpool have agreed an extension with shirt sponsors Standard Chartered, which will see the international banking group continue sponsorship of the Reds’ shirts until the end of the 2015-16 campaign, according to The Daily Mail.

The north west outfit had been in negotiations with the organization for months relating to an extension, and while no figures in relation to terms have yet been disclosed neither side is thought to have harboured any desire to walk away from the deal.

When the group first took over the shirt sponsorship from Carlsberg in July 2010, Liverpool had just finished second in the Premier League and was Champions League regulars.

Glory on the pitch may have waned somewhat in that time, but optimism remains high at Anfield under the regime of Brendan Rodgers, who has impressed many with his ability to make good deals in a swift fashion in the transfer market.

Liverpool’s chief commercial officer, Billy Hogan, said: “When Standard Chartered first came on board we knew we found a partner that shares our passion for community and desire to make a positive difference.

“We are delighted to announce the extension of our partnership, which shows the belief and continued commitment to the work that we are doing together and the values that we share.”

The club had been linked with a sponsorship agreement with Qatar-based telecom firm Ooredoo, but these links appear to have been of little substance, with both the club and the sponsors reiterating the healthy relationship shared between the two parties.

Group chief executive of Standard Chartered PLC, Peter Sands, also commented on the deal: “Our sponsorship of Liverpool Football Club has proved successful for both parties and we are delighted to be extending our partnership.

“Liverpool is hugely popular in the markets where we do business, and we are excited about the opportunity to continue to work with this fantastic club and their passionate fans.”